Connor Clark & Lunn Investment Management Ltd. Makes New $3.45 Million Investment in Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 384,825 shares of the pharmacy operator’s stock, valued at approximately $3,448,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Thompson Siegel & Walmsley LLC lifted its stake in shares of Walgreens Boots Alliance by 98.8% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 6,021,126 shares of the pharmacy operator’s stock valued at $72,826,000 after purchasing an additional 2,992,648 shares in the last quarter. Newport Trust Company LLC acquired a new stake in shares of Walgreens Boots Alliance in the second quarter worth $31,028,000. Swedbank AB purchased a new position in shares of Walgreens Boots Alliance in the 1st quarter valued at $16,365,000. Philip James Wealth Mangement LLC purchased a new stake in Walgreens Boots Alliance during the 3rd quarter worth $5,252,000. Finally, Neo Ivy Capital Management purchased a new position in Walgreens Boots Alliance in the second quarter valued at about $6,642,000. Institutional investors and hedge funds own 58.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Truist Financial lowered their target price on Walgreens Boots Alliance from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Monday, October 7th. UBS Group lifted their target price on Walgreens Boots Alliance from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. TD Cowen cut their price target on shares of Walgreens Boots Alliance from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Barclays upped their price objective on Walgreens Boots Alliance from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley lowered their price objective on shares of Walgreens Boots Alliance from $9.00 to $7.00 and set an “underweight” rating for the company in a research report on Friday, October 11th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.88.

Walgreens Boots Alliance Price Performance

Shares of NASDAQ:WBA opened at $8.66 on Monday. The stock’s 50 day moving average price is $9.14 and its 200 day moving average price is $11.51. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.68 and a quick ratio of 0.37. The stock has a market cap of $7.49 billion, a price-to-earnings ratio of -0.87, a PEG ratio of 1.14 and a beta of 0.69. Walgreens Boots Alliance, Inc. has a 12 month low of $8.08 and a 12 month high of $27.05.

Walgreens Boots Alliance (NASDAQ:WBA) last announced its quarterly earnings data on Tuesday, October 15th. The pharmacy operator reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. The business had revenue of $37.50 billion during the quarter, compared to analyst estimates of $35.75 billion. Walgreens Boots Alliance had a positive return on equity of 14.23% and a negative net margin of 5.85%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Equities research analysts anticipate that Walgreens Boots Alliance, Inc. will post 1.53 earnings per share for the current fiscal year.

Walgreens Boots Alliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, November 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 11.55%. The ex-dividend date of this dividend is Monday, November 18th. Walgreens Boots Alliance’s dividend payout ratio is presently -9.99%.

About Walgreens Boots Alliance

Walgreens Boots Alliance, Inc operates as a healthcare, pharmacy, and retail company in the United States, the United Kingdom, Germany, and internationally. It operates through three segments: U.S. Retail Pharmacy, International, and U.S. Healthcare. The U.S. Retail Pharmacy segment engages in operation of the retail drugstores, health and wellness services, specialty, and home delivery pharmacy services, which offers health and wellness, beauty, personal care and consumables, and general merchandise.